Financial Update Report – July 2016

Michael QuanInvestment, Misc, Net Worth30 Comments

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Financial Update Report – July 2016

Below you will find a snapshot of our July financials – including a brief synopsis of both net worth and cash flow.

If you have any questions on how and/or why I calculate and share our net worth, you can find details here.  Please note there are some affiliate links contained below, but please know that I only recommend products or services that I believe would help my readers.  Personal Capital is FREE to use and a very powerful tool I use myself to help create these financial reports.

If you’re interested in how you can track your own personal finances as I do and want to download my free budgeting spreadsheet, check out my post – How to Budget Like a Bad Ass.

Overview 073116

July’s Overview

The past 5 weeks has been a whirlwind of non-stop adventures to the zoo, the county fair, a trip to Mammoth, a trip to L.A., Disneyland, Legoland, the beach, the library, several parties, and a whole week of volunteering.  Whew, what a busy summer!

It was fantastic!  But, I’m glad to slow things down now. We’re in a school district that goes year-round, so both my wife and daughter are back to their normal school schedules as of last week.

Anyhow, July has been quite eventful in fiscal terms.  The biggest news is that we FINALLY received our federal tax refund!  WOO HOO.  That only took an extra 3 months thanks to my special ID thieves.  But, at least it’s here.  That’s all that matters.  🙂

Net Worth Summary

We ended the month of July at $1,629,202 vs. $1,603,529 this past June.  This is a $25,376 increase in our net worth or +1.6% by percentage.

In addition to our tax refund, the markets also stretched their gains this past month.  This allowed us to see an increase in both cash and our portfolio equity.


NW Summary 073116r

Cash Flow Summary

This past July saw a cash flow profit of +$6948.43.  This was primarily from the IRS refund (~$7k) we finally got back and it was nice to tuck this away.  

CF Income 073116


Income of $18,650 was definitely higher with the IRS tax refund.  However, not counting the refund, I would note that the remaining income was a little lower than normal (~$1000) as we have a vacancy in one of our Las Vegas rentals.  It’s back on the market, so hopefully it’ll be rented out again soon.  The rest of the income came from my wife’s teacher salary, rental income, dividend income, and misc investment income.


CF Expense 073116



Expenses were $11,701.  This is up a touch due to our 6-month auto insurance policy premium hitting this month.  The good news is that I actually cut our premium from $930 to $772 by switching from Allstate to Geico.  Likewise, I’m working on reducing our cable bill by ~35% which I will elaborate on at a later date.

Portfolio Balances (Equities)

Portfolio Summary 073116

Portfolio Balances 073116

Portfolio Allocation 073116

Looks like I trailed the S&P 500 a touch this month, but still beating it for the year overall.  It didn’t really matter because our portfolio grew almost $15k this past month!  I’d be lying if I didn’t say I was surprised we keep going higher and higher.  🙂


So, July ended up being a great month.  With the IRS refund finally in, it feels like we can move forward.  Personal Capital did point out that we’ve got a chunk of cash that we should put to work, so I’ll be looking for some safe “holding” areas to keep it and at least get some minimal returns (which currently we’re getting none).

I have also been investing some money into a side hustle (FBA business) and testing out new products that I can potentially sell online.  I’m about $500 into it currently, but getting closer to making my first bulk purchase for resale.  I’ll definitely write about this too as it unfolds further.

Other than that, I just feel super blessed each day and doing my best to balance gratitude and drive.

Readers, how was your July?  How has the first half of the year been for you so far?  What do you intend on accomplishing before year-end?

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30 Comments on “Financial Update Report – July 2016”

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  2. Nice increase this month! I’m surprised the market has gotten this high as well. I’ll be interested to hear how your FBA business does.

    1. Thanks, MCL. Yeah, I need to do a write up on the FBA project someday soon. Each phase has been taking way more time than I anticipated.

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  5. Looking good, congrats on your refund. We only do net worth update check every quarter so not sure what our numbers came out to be. Given that the stock market has been hot lately I’d guess that our net worth increased nicely in July. 🙂

  6. Great job increasing your cash balance, this sounded like a fantastic month for you! Also switching from Allstate to GEICO, phenomenal move! The commercial that 15 minutes could save 15% is not a lie.. My insurance rate is so cheap based on my driving record, etc.

    Onwards and upwards 🙂

    1. Thanks for the comment, FS. Yeah, I had been noticing our auto premiums creep up and up over the past few years, so it was about time I got some competitive bids. Onwards and upwards!

  7. Simply amazing to see your success here. Personally I always love to read people’s stories to stay motivated and work hard everyday. Good luck..

    1. Thanks, Mr. Tako! That elusive refund has been hanging over my head for some time now. Feels good to have it behind me finally.

      I’m sure your dividends kicked ass again in July! Looking forward to seeing the details.

  8. Up and to the right, looking good!

    I’m interested in hearing more about your FBA business. I think this research phase is the most interesting, but often people don’t want to share too many details for fear of more competitors.

    1. Thanks, Brian! Yeah, I’m still in the exploratory phase of my FBA product and getting samples. I want to make sure I get the right mix of quality and at a price that can still allow me to make a decent margin. I used to wonder why people were so secretive of their products before too… now I know! After spending hours and hours of research and money, you simply want to protect the potential market from any excess competition. 🙂

  9. Congrats on your refund. Nice.
    Our investment portfolio grew by 2.8% in July. Even better we were on vacation for half of it. A bit of training for our FIRE plan in summer of 2018.
    Second half of this year will include planing our next vacations and mentally living the dream, at least for now.

    1. Mr. Pie, 2.8% is a huge move in a month, congrats!! Isn’t it awesome when you’re on vacation and you come home to a larger honey pot? Feels incredible, huh? 🙂 Enjoy the vacation planning… that’s half the fun!

  10. Our savings goals are still on track, although I really hope the gains hold for the rest of the year. Unfortunately, we are still spending more than I would like. I will revisit this at the beginning of next year to see what changes we can realistically make.

      1. Actually, it has stayed pretty consistent except for a few monthly spikes do to yearly expenses (like vacation).

  11. Looking good! We just did our numbers for the month, and I can’t believe this market either. Would not have thought we would keep going, but I will take it. All part of the reason I do not try and time things anymore.

  12. Great month Michael!

    Glad to hear you finally got your refund check, and a decent size one at that. Looking forward to hearing more about the FBA business.

    July was our second largest income month on record, and the #1 spot is from January of this year. This will put our net worth up about $24,000 this month, you still got me beat though 🙁


    1. Thanks, Dom! I’m really stoked for you. You work incredibly hard, so you definitely deserve all of your current success and large income you’re producing nowadays. $24K is incredible considering it probably didn’t come primarily from appreciation. Wow!!

  13. Great news about the IRS check. We got our federal check very quickly, but our state refund is still delayed. They are backed up this year because they flagged a lot more returns for reviews. Hopefully, we’ll get our check soon.
    Sounds like a fun month. We had a very busy month too and August will still be a lot of fun for us. School starts Sept. 1st. 🙂

    1. Hope you get your check soon, Joe! Although, I thought you were in Oregon and didn’t have to pay income taxes at the state level? Or, is it because of your online business activities?

  14. July was an excellent month! Lots of side-hustle action setting up the back half of the year.

    Big Kiddo starts kindergarten this month, and Little Kiddo starts a new school as well, so our childcare expenses will be significantly lower than they have been…. Ever. So that’s awesome!

    Still planning on paying off one of the big credit cards this year. The reduced childcare costs and increased side hustle income will all contribute to that!

    1. Oooh, that’ll be exciting Pia to start making a dent in that credit card principal! Better yet, you’re already used to that cash flow. 🙂

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